i'm ben thompson. it's a new trading week on global financial markets the us dollar has strengthened while the canadian dollar hit its lowest level since 2003. tariffs against the uk. in his cross—hairs. but it will definitely happen with the european union, advantage of us, and, you know, we have over a $300 billion deficit. is really out of line, the uk is out of line let's take a quick look at the global market reaction. joining me now from sydney is tim waterer, who's president speaking there. president from speaking there. says has the power to imestars , nermus. make investors verynervpus. is meke investors very'nervcxus. is the meke investors very'nervoos. is the of the —== i think. specifically, day, ithink. specifically, traders are wondering now, those latest tariffs, will it those latest tariffs. will. it an own goal for the those latest tariffs. will. it an own goalfor the us? will be an own goalfor the us? will it be wounds and growth? how many inflation and growth? how many will countries

welcome to business today, i'm ben thompson.united states and its key trading partners. at midnight in washington the us went ahead with its promise to impose 10% tariffs on all chinese goods headed to the us. china quickly retaliated saying it would do the same, a tit for tat row that could have big implications for the global economy. would take effect next monday. an extra 10% tax will be added to goods including crude

welcome to business today, i'm ben thompson.e begin with the latest on the trade clashes between the united states and its key trading partners. at midnight in washington the us went ahead with its promise to impose 10% tariffs on all chinese goods headed to the us. china quickly retaliated saying it would do the same, a tit for tat row that could have big implications for the global economy. would take effect next monday. an extra 10% tax will be added to goods including crude oil and agricultural machinery, while imports of coal the us tariffs. with its northern neighbour — canada. saying canada had agreed to some of his demands. our north america business correspondent michelle fleury in response to the threat of tariffs, some canadian monica morelli cancelled subscriptions to amazon she isn't planning to sign back up. it's not acceptable. they were bracing for the worst. around 80% of canada's exports end up in america. this company has been in business for over 50 years. working together, creating relationships that took a

and the boss of oil giant equinor tells the bbc he's welcome to business today, i'm ben thompson. the bank of england cut interest rates today but warned there may be more pain ahead. to cut rates by a quarter of a percent to 4.5%. cut of half a percent. however what caught most people's attention was its forecast for the uk economy. it cut its growth forecast for 2025 from 1.5% to 0.75%. the bank of england's governor — andrew bailey — also warned inflation will rise, getting close chief european economist at pgim fixed income. good to you here. no great surprise we have that cut. surprise that we have that cut. a lot of people were expecting é lfit. fif efifielfififimfiesmflfi as always, é lfil. fif efifielfififimfiesmflfi as always, what é lfil fil efifielfififimfiesmflfi as always, what are it. as always, what people are is what could next. fnext. it doesn't make happen next. it doesn't make for attractive about today really was 5 today really was all right. today really was all how right. today really was all how does the bank of about how does the bank of see uk about how does the bank of from uk :..f.,

welcome to business today, i'm ben thompson.et's start in the us, where two of the tech giants shares in apple are currently in the red, after reports it faces a probe by chinese authorities over its than expected revenues after the bell on tuesday. than get acted revenues than get thed revenues than get the very enues than get the very latest. ritika gupta, joins us now. let's start first with alphabet before we get apple, of before we get to apple, of course, the of so course, the owner of google, so why are investors so nervous now? , , ., why are investors so nervous now? , , ., , . now? yes, you see that nervousness _ now? yes, you see that nervousness being - now? yes, you see that. nervousness being dragged down after some underwhelming results from alphabet. as results from alphabet. a&e as well, investors here, said well’."investprs here, said the heavy wallrinvastdrs hara, said the heavy spending a bout the heavy spending fro rd co m pa n i es a bout the heavy spending fro rn companies and a bddt'the heavy spending fro

welcome to business today, i'm ben thompson.start with those fears of a global trade war, and hopes of a deal between the us and china to avoid escalation. after president trump announced the us was putting tariffs that he will speak to chinese president xijinping today. according to capital economics — that will hit imports worth $450 billion dollars a year. china has retaliated with targeted tariffs on some us goods — including oil and farm machinery. and they won't come in until february tenth — veteran analyst russ mould is sceptical. the customs duties that over i more than generates over all i more than where they were eight ——~;g°~ 7 7 7 7 ; w ago when 77 ago when 5 to years ago when president to introduced his first two jump introduced his first two tariffs on chinese goods, and their: did tariffs on chinese goods, and thee—e did not ”those ' ' ' “th; 5 added ' 5 ' “his; 1 added as z ' -=—z the tensions been going so the'tensidnshave'been gding for eight so ths'tensions'hsvs'been going for eight years, they on for eight

britain's but his biographer tells me the �*bromance�* welcome, this is business today and i am ben thompsonl on the stock markets. a couple of hours ago. a "deal" with mexico to pause the taxes for a month. our north america business correspondent, ritika gupta, has been trying to keep up. give us a sense of what has gone on so far today because down on 77 down on that opening sharply down on that nervousness, but some that may be the reassurance that may be the president is willing to listen, things change? �*things change? - ben. we if things change? 2 ,7,7::; seeinu stocks if things change?§ - seeing stocks reversed f if things change?§ - seeing stocks reversed some losses, as you of those losses, as you mentioned, a slight reprieve ”22 seeing stocks there, but still seeing stocks down in the red after the —nd anngunzgmgnt gt tariffs £1112" """*"”""'*”"’ of anngunzgmsnt gt tariffs amiw' ' " of course anngunzgmsnt gt tariffs ahq�*w'” ' " of course fast changing then of course, fast changing with the announcement moves with the announcement that the tariffs of mexico will be delayed �* a t

i'm ben thompson.el since 2003. tariffs against the uk. in his cross—hairs.